San Antonio, TX
January 18, 2006 Payment Data Systems, Inc. (NASDAQ
OTCBB: PYDS) an integrated electronic payments solutions
provider, today announced that credit card transactions
processed in the fourth quarter were the Company’s highest
for any quarter to date. December was also the Company’s
best processing month to date.
Both the transaction and dollar value volumes for
December are PDS' highest for any month to date. December’s
numbers better November’s, our previous highest month, and
are 184% higher than transactions processed and 114% higher
than dollars processed in December 2004.
Transaction and dollar volumes for the fourth quarter
were even more exciting. The fourth quarter transactions
were 343% higher than transactions processed and 215% higher
than dollars processed in the same quarter from the previous
year.
In December the Company paid off it’s outstanding debt
balance and is now debt free. The debt was paid using cash
to prevent share dilution. PDS will report a profitable
quarter when we release the results from the fourth quarter.
Michael Long, Chairman and CEO of Payment Data Systems,
Inc, said “We continue to be highly motivated by the
progress of the company throughout the 2005 calendar year
and the tremendous momentum and opportunity that is being
carried into 2006. Very soon, we will be releasing a recap
of the 2005 year and more details on the strategic plans for
’06.”
Audited results for the fourth quarter and for the year
will be made available to the public by or on March 31,
2006.
About Payment Data Systems, Inc.
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Payment Data Systems is an integrated payment solutions
provider to merchants and billers. We provide an
extensive set of tailored products to deliver
world-class payment acceptance, processing, and
risk/fraud management. Payment Data has solutions for
merchants, billers, banks, service bureaus and card
issuers. Whether you are in the market for card
issuance, payment acceptance or bill payment solutions
we have a solution for you. Payment Data is the owner
of the electronic bill payment portal,
http://www.billx.com.
Billx.com has the ability to transmit payments to
thousands of national billers.
Payment Data is also the exclusive license holder of
the rights to market the Carmen Electra gift and prepaid
cards. To receive updates on the Carmen Electra card
program sign-up at www.carmencard.com
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